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Updates before Expiration Friday Today's Trades: CHWY closed 98-100-102 call fly for max loss at @ 2.04 CHWY closed hedge adjustment 102-98 put spread @ .03 Final CHWY Loss 1.64 with commissions after initial credit and hedge profits. SNAP sold Iron Fly 49-50-51 @ $0.79 Credit - hoping...

Do you have a trading partner or an algo to manage these? I'm intrigued by your craft.

It is not.

If she was a great trader with a 98% success rate she wouldn't be wasting her time with promotions and attracting clients. Cut your losses and run. IMHO.

Amen

and dude pick a new screen name like - "Winners deferred" toomanyloses is depressing. You got this.

What's your set up for this? This intrigues me.

Not bad to have a hedge concept I think this set up wasn't ideal. Maybe doing a long winged 60 DTE fly in the vxx calls instead. Cheaper with good potential as long as it isn't a black swan correction you're hedging against. Which in that case we're all pretty much fucked anyway except Taleb.

By setting this calendar up so far out of the money it already has a directional bias. If you're neutral on it or bullish SPY now why not buy in your Jan and just sell a put above your long put leaving you with a credit spread with a neutral bull bias. Then you'll benefit form theta. Are you...

This is about to get good.

Can't you let the Jan 22 short expire and then just keep rolling selling another SPY 350 put against it as you cost down your April 16 long put waiting for the big move down and and a pop in vega? On Jan 22 buy in your put and then fell a Feb 19 350 put. I think ideally in your calendar set up...

I wouldn't say always. I have a hedge type of fly on in VXX that's 44 DTE with wider wings and profit zone. I'm using this journal primarily for weekly fly or weekly expiration trades. Enter a few on Monday manage them through the week. Sell iron fly on the close on Wednesday and if the...

J Kuch got this done.

Ride those bitches get your money's worth. I'm most likely going to be assigned away on RIG Friday but she gave me a fun tussle long the way. I've got poor man's covered call doing well in GE a stock I like to take revenge on. But having more fun figuring out the flies. Covered my short puts...

Well played ... well played.

I like your balls. What strategies are you thinking of implementing?

Sold the following. Looking to exit tomorrow. Iron Fly SNAP 51-54-74 @ $1.59 credit Selection based on high IV rank and arrangement of possible high OI pinning strikes. Closed TLT 152-154-156 @ $0.75 profit of $44 minus commission $40 winner winner

Update With CHWY chewing me up to the upside I sold the 102-88 put spread against it for$0.68 this plus the initial credit of $0.17 keeps the max loss potential at $1.15 down from $2. Not thinking this one will come back into the profit zone. TLT and DKNG looking better and better. Selling...

Taking profits yet on your TLT fly?

I prefer the ratio to straight selling naked any day of the week. You can do more with it defense wise as well. I'm just and remain terrified ever ever selling naked from an experience with a call in minneapolis wheat over a decade ago. I don't dance around that fire anymore.